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Lanxess to buy two pigments plants in China |
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Written by Reuters
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Jun 29, 2008 at 05:48 AM |
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SHANGHAI, June 26 (Reuters) - German chemical maker Lanxess said on Thursday it planned to acquire two inorganic pigments production facilities from a previous Chinese partner, marking its first acquisition in China.
The sites, near Shanghai, have combined annual production capacity of 30,000 tonnes, the company said in a statement. Lanxess gave no financial details of the purchase from Jinzhuo Chemicals Co. The acquisition will enable Lanxess to expand its global inorganic pigment production capacity by 5 percent. Lanxess had already been leasing one of the production facilities since last year, the statement said.
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